On April 8, RINL floated 30,000 tons Pig iron (Si% 0.05%) export tender, date of opening price bids was shifted from the 24th to May 3.
Prime Carbon GmbH (Switzerland) was the only party who got through the technical round and bid at $398.18/MT FOB.
The second party was cancelled in technical round and had also bid low.
RINL was expecting $404.50/MT FOB and hence, decided not to award the tender.
Pig iron prices:
Korea $415 CFR
Ukraine $390-395/MT FOB Black Sea
Russia $425-440/MT FOB Baltic Sea
RINL is to take a decision on resuming domestic Pig iron sales. Prices might stand at Rs 22,500/MT (basic) with Rs 750/MT discount on bulk buying.
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